[2017-12-02] Turkey Central Bank Admits BTC is a Threat to Global Banking System

[tyz]

Turkey Central Bank Admits Bitcoin is a Threat to Global Banking System

Earlier this month, Turkish Central Bank Governor Murat Cetinkaya emphasized that bitcoin could contribute to global financial stability with its decentralized and peer-to-peer (P2P) financial network.

https://www.cryptocoinsnews.com/turkey-central-bank-admits-bitcoin-threat-global-banking-system/

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[Gotottack]

It obviously will affect the Global Banking System because of the switching of the demand of people from the traditional fiat currency to cryptocurrencies. With this, the supply and demand of traditional fiat currencies will be eroded. When the demand for traditional fiat currencies declines as it used to, the oversupply of the same will cause the economy to lose big time. There will be decreased circulation brought about by lessened demand. With this poor demand, many banks may close because its business has at some point become obsolete.

[Lancusters]

Now every government is discussing the idea of creating its own cryptocurrency. They do not realize that the phenomenon of cryptocurrencies, the most important is that they give independence. The government rely on the fact that electronic money is convenient to use. It seems to me that they will not be in demand. Until later need to modernize the banking system.